Top brokers name 3 ASX shares to buy next week 25 September 2022

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Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.

Here’s why brokers think investors ought to buy them next week:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Citi, its analysts have retained their buy rating with a slightly trimmed price target of $40.20. Citi notes that US casino industry revenues are sustaining at much higher levels than history but higher supply-chain costs are impacting margins. This has led to the broker trimming its earnings estimates slightly. Nevertheless, Citi expects this to be temporary and remains positive on the future. Particularly given that Aristocrat holds five of the top 10 premium/leased titles by installed base and has newer machines growing rapidly in popularity. The Aristocrat share price ended the week at $32.88.

Coles Group Ltd (ASX: COL)

A note out of Morgans reveals that its analysts have retained their add rating and $20.00 price target on this supermarket giant’s shares. This follows news that the company has agreed to sell its Coles Express business for $300 million. Morgans expects this to allows Coles to focus on its core business and free up balance sheet capacity. The Coles share price was fetching $16.34 at the end of the week.

IDP Education Ltd (ASX: IEL)

Analysts at Goldman Sachs have retained their buy rating and $36.00 price target on this language testing and student placement company’s shares. Goldman notes that IDP has announced an agreement to acquire Intake Education for up to $83 million. The broker is positive on the deal and believes it could allow IDP to grow its market share of UK student placements. It also sees cross-sell opportunities. The IDP share price ended the week at $26.51.

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